Piraeus Financial S A : Trastor to raise up to €75mn to fund new real estate asset investments
December 14, 2023 at 11:39 am EST
Share
Trastor to raise up to €75mn to fund new real estate asset investments
The Board of Directors of Trastor REIC (hereinafter the "Company"), following the authorization provided by the Extraordinary General Meeting of Shareholders on 17/11/2023, unanimously resolved during its meeting held on 14/12/2023 a share capital increase with the purpose to raise funds up to the amount of €74,999,990.90 (including the premium amount), through the issuance of up to 52,816,895 new ordinary registered shares with a par value of € 0.50 and an issue price of € 1.42 each, with pre-emptive rights in favor of the existing shareholders.
Mr. Christos Megalou, Chief Executive Officer of Piraeus Bank Group, made the following statement:
"Piraeus Bank's strategic partnership with Trastor marks a significant step for the Bank in achieving its revenue growth and diversification aspirations. Our participation in the Company's capital increase, reflects our support to Trastor in further capitalizing on real estate investment opportunities in Greece."
Mr. Tassos Kazinos, Chief Executive Officer of Trastor REIC, made the following statement:
"This marks the Company's third share capital increase since 2019, underscoring our adeptness in raising and thoughtfully deploying capital within the Greek real estate market. Trastor has firmly established itself as a market leader with a strong growth rate track record, and the funds raised through this latest capital increase will further empower us to capitalize on investment opportunities with optimism and confidence. Rooted in value-add investing and the proficient management of premium commercial assets, our strategy continues to yield substantial returns for all our shareholders."
Piraeus Financial Holdings SA published this content on 14 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 December 2023 16:38:20 UTC.
Piraeus Financial Holdings SA, formerly known as Piraeus Bank SA, is a Greece-based banking institute. It operates in the following main business segments: Retail Banking, Corporate Banking, Investment Banking, as well as Asset Management and Treasury. The Retail Banking segment includes the retail banking operations of the Bank and its subsidiaries, which are addressed to retail customers, as well as to small-medium companies, such as deposits, loans and letters of guarantee, among others. The Corporate Banking segment includes facilities related to corporate banking, provided by the Bank and its subsidiaries, addressed to maritime companies, such as syndicated loans, project financing and imports-exports, among others. The Investment Banking segment includes activities related to investment banking operations of the Bank and its subsidiaries, such as investment and advisory services, underwriting services and public listings, as well as stock exchange services, among others.
PIRAEUS FINANCIAL HOLDINGS S.A. 
